Discussion in 'The Howard Stern Show' started by Beth143nacho, Sep 2, 2015.
thinking about flipping a house. Thoughts? Anyone ever do it and have any pointers?
Sell it for more than you put into it.
Don't do it. Horrible market for housing...still. Unless you get it for free.
I've flipped plenty thank you
When you're buying labor, whether it's plumbing, painting, demo or anything else, use this rule of thumb...
Good, Fast, Cheap...
Inherited my fathers home, fixed it up and sold it. The most important thing is to remember you won't be living there, so don't go overboard on the decor. Always use neutral colors. Also, sub everything out instead of getting a general contractor...this can save you a bundle.
Hell no. Selling my first house was stressful enough.
No, but I used a big lever to turn over a mobile home once.
Buy low ... sell high
Also partner up with her
Buddy I play hockey with is an older guy who works in real estate in South Jersey. The other day he was talking about how he was flipping houses in the late 90's and easily profiting 50k-200k on each house. He did all the major repair work himself that he could and would only really bring in an electrician. However he said those days are long gone in today's market and economy. If you're lucky enough where you can afford a second home in a high demand rent area then I recommend you might rent it out and pay the mortgage off that way.
Just this one.
my wife and I sort of flipped our first house. we stayed for a few years, slowly replacing fixtures, flooring, etc. not the most expensive, as it wasn't in the nicest area, but not bottom of the barrel either. new and clean. we sold and pocketed over 50K after everything and upgraded nicely.
So you were successful at it, nice.
I bought a house a contractor flipped. He did everything cosmetically well so it passed an inspection from a 3rd party inspector I hired.
Man,,it became a money pit. Leaks, basement flood,,weird electrical issues. I get repair people in there and they rip on the contractors work.
Buyer beware flippers cashing in.
Tried to flip a flop house. Created quite a flap.
I know some people who have the same problem. They know nothing about home repair either.
It's hard to believe that a home inspector signed off on some of the bullshit going on over there.
The flipper mover the washer and dryer into the master bedroom so there was a drain pipe sticking out of the wall.
The wife was in a big hurry to check out her new machine and the laundry was all piled up.
I forget why I checked but they had cut the PVC pipe at the floor and it wasn't hooked up to anything !
If she would have run the washing machine she would have flooded out the downstairs hallway and bathroom.
I had to open up the floor and re-pipe the whole thing. Hell of a mess.
Buy low, sell high.
Hey, weren't you buying something in Detroit? Was that you? How did it work out?
What could go wrong?
Flip her over and pound her in the shitpipe.